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 2013 COSO Internal Control – Integrated Framework: Challenges and opportunities

Chapter Event
12/5/2013 8:30 AM
12/5/2013 4:30 PM
Deloitte Rosslyn office, 1919 N. Lynn Street, Training Room 15142B, Arlington, VA 22209 |
The 1992 COSO Internal Control – Integrated Framework (ICF) provided the foundation for nearly every internal controls and risk management standard and regulation.  In May 2013, the much anticipated update to the 1992 ICF was released and is already having far-reaching effects upon management teams, auditors, process & controls specialists, compliance teams as well as those with responsibilities related to internal controls over financial reporting (ICFR).
Please join us on December 5, 2013 for a training on the updated 2013 COSO Internal Control - Integrated Framework presented by Deloitte & Touche LLP.  During this 8 hour session, Deloitte will provide an overview of the 2013 COSO framework’s structure and mission, including what was carried forward into the new framework, broad changes and transition and implementation guidance.
Deloitte will highlight the key changes including the significant enhancements that may pose challenges to management, provide a detailed understanding of each of the 17 principles, and help you formulate specific actions for how you can identify, assess and implement the changes to your specific organization.  The facilitators will also discuss the limitations of internal control and considerations and next steps during the transition period, including available tools and resources.

Learning Objective:
At the end of this course, participants will be able to:
Provide an overview of COSO’s structure and mission
Provide an overview of the COSO 2013 framework, including:
o     Core components of the 1992 Framework carried forward in the 2013 ICF
o     Expectations for governance and oversight
o     Application of ICF to complexities in laws, rules, regulations, and standards
o     Expectations related to competencies and accountabilities
o     Use of, and reliance upon, evolving technologies
o     Expectations related to the prevention and detection of fraud
Provide practical implementation examples facilitated through directed questions and activities
Discuss considerations and next steps during the transition period, including available tools and resources

Course Duration: 8 hours 
CPE Hours Available: 8 NASBA 
Knowledge Level: All levels
Field of Study: Auditing
Prerequisites: None.
Advance Preparation: None.
Delivery Format: Group-Live 
Member: $275 register and pay by 11/19/13| $325 register and/or pay after 11/19/13
Non-member: $295 register and pay by 11/19/13| $345 register and/or pay after 11/19/13
In order to receive the early discounted rate, you must pay for the event by 11/19/13.  Please see the refund and forms of payment policies at the bottom of this email.
Facilitator Biographies:
Angela Asante, Manager
McLean, VA
Deloitte & Touche LLP
Angela Asante has eight years of experience in Sarbanes Oxley (SOX), risk assessment, and the evaluation and redesign of business processes and internal controls within the Financial Services industry. She specializes in SOX compliance, risk identification, risk mitigation, assessing and testing business processes and internal controls for clients with complex and unique infrastructures. Angela is experienced in internal controls design and testing and reviewing and recommending enhancements to business processes and controls related loans, investments, derivatives, expenditures, cash processing, accounting and financial reporting and served her clients in these areas in both an audit and advisory capacity. Angela is experienced in leading large teams, project management, communication with executive level management, and training facilitation.
Jennifer M. Burns, Partner
Washington, DC
Deloitte LLP
Jennifer Burns focuses primarily on regulatory and standard-setting matters impacting the accounting profession and the performance of audits.  In this role, Jennifer has served as the firms’ representative on COSO’s Advisory Council which provided input on the development of the updated 2013 COSO Internal Control- Integrated Framework.  She also previously served as a member of COSO’s task force which assisted in the development of COSO’s Guidance on Monitoring Internal Control Systems. From 2004 through 2006, Jennifer was a Professional Accounting Fellow at the SEC in the Office of the Chief Accountant.  While at the SEC, Jennifer worked on regulatory matters related to the development of auditing policies and procedures.  During this time, she was the SEC’s observer monitoring the development of COSO’s Internal Control Over Financial Reporting - Guidance for Smaller Public Companies. Prior to joining the Commission, Jennifer spent 11 years with Deloitte in its audit practice, first performing audits in Los Angeles, California and then in Deloitte’s national office in Wilton, Connecticut.
Dawn Jones, Director
McLean, VA
Deloitte & Touche LLP
Dawn is a Director in the Greater Washington Advisory practice. Dawn has over 16 years of experience with providing risk and internal controls, business process, revenue assurance and regulatory services to her clients. Her industry focus has primarily been in the technology, media and telecommunications sectors.  She also serves clients in other industries including government contracting and not for profits.  She also has prior experience in industry, establishing a new internal audit function and audit plan for a telecommunications company.  Dawn also supports the practice development of Deloitte’s national Internal Audit Transformation service offering within the U.S, and is involved in the development of strategy, methodology and tools, as well as a national and global advisor to client teams on internal audit services. Dawn also leads internal audit training initiatives, including Deloitte’s training relationship with the Institute of Internal Auditors – and is a frequent developer and facilitator of internal auditing, risk management, and core consulting training and presentations.  She has also co-authored risk management thoughtware.  Dawn is a Certified Public Accountant (MD, VA, and DC), Certified Internal Auditor, and Certified in Risk Management Assurance.